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Emerge Group - Insurance Chat

What are the most common options to secure finance for your business?

There are various common ways to raise finance for one’s business. The most common way is to approach your bank, however, sometimes the requirements needed are not easily met. The second way to secure finance for a business would be to approach private investors if one can show clearly that it would be a lucrative and low-risk investment for them. The third way one could raise funding for a business would be to approach a company like Emerge Group. Emerge Group, in partnership with The Jobs Fund a division of the National Treasury, has a clear mission to fund SME’s with a bright future and our ultimate goal and vision is job creation across South Africa.

What would be the most important considerations for the financier to consider before making capital available to a business?

Managing risk is what good investors do best. Any potential financier should look at a wide range of factors very closely before injecting capital or infrastructure into any business. One of the best ways of looking objectively at the sustainability of any business and return on investment is to look at financial history and year-on-year growth. Before investing, a clear understanding of what the capital is going to be used for is essential. A solid business plan, as well as the ongoing and dynamic positioning of the business within an ever-changing economic environment, is important. Ultimately understanding agreed-on deliverables and securing a solid return on investment is the most important consideration before making capital available to a business.

What are the most important elements needed for an effective business plan?

A good business plan must include a number of important elements in order to clearly define and set out the future success of the business. A clear mission statement, vision, and goals of the business and a clear description of what the business does are vitally important. One should also include detailed information regarding what products and services the business provide and their unique selling points. Include accurate and well-researched competitor analysis and clearly state why your business sets you apart from the rest. Finally, show realistic and achievable financial projections for at least a year ahead.

How can an entrepreneur strengthen his proposal to acquire financing?

Any proposal for financing needs to convey confidence to the potential investor or financier. One should include as much information as possible regarding the business and make sure that it is 100% accurate. Submit all the documents that may be required and answer all the questions the investor may have honestly and confidently. Sell yourself and your idea!

Can you tell us more about your business and how you are able to assist businesses with business finance?

Emerge Group (Pty) Ltd conceptualized on a lending fund that could assist existing and budding entrepreneurs with financing and business support training with the intention of creating full-term employment opportunities. An application was extended to The Jobs Fund managed by the Treasury Government Technical and Advisory Committee (GTAC).

On 19 February 2020, the National Treasury of the Government of the Republic of South Africa acting through GTAC entered into an agreement with Emerge Group (Pty) Ltd. We facilitate, support and fund SME’s with the potential to grow and create jobs.

Emerge Group (Pty) Ltd is a multidivisional company and provides professional tax, audit, ICT, BBE-EE, training, marketing and advisory services.

Are you focused on specific sectors or industries?

We are not focused on any specific industry. We will provide our services and support to any small to medium enterprise. However our main aim is to assist previously disadvantaged business people and ideally, you should be at least Level 2 BEE compliant and owned in order to secure funding through Emerge Group.

How involved should a financier be after providing business finance - Do you believe there are other important "Value Adds" such as i.e. training that could benefit the entrepreneur seeking assistance?

As a financier, Emerge Group is obligated to be highly involved in every business both pre and post-investment. The business being funded should agree to go through and complete pre and post-investment training at the very least. We do offer high-level and tailor-made training programs to assist any business to make the most out of the investment and achieve the deliverables set out and agreed upon during the application and proposal stage. Emerge also has a legal obligation to provide accurate and ongoing reporting back to the Jobs Fund on every business we work with.

Which types of training do you regard as most important to business survival?

Training and skills development, as well as pre and post-investment training, are essential to business survival and the ability to constantly reposition and adapt the business in such a way that it remains sustainable and profitable.